The Process of Buying a Home in Springfield, OH

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Understanding the Springfield, OH Housing Landscape

Ready to lay down some roots and buy a house in Springfield? Smart move! You've chosen a lively city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers across the country and know the Springfield housing market well.

Springfield's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Sustained support for local businesses and cultural growth have helped to attract entrepreneurs, retirees, and new graduates to the Springfield area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Springfield and the surrounding areas still offer a variety of home types and prices. You can find single-family homes, condos, townhomes, and (hopefully) your dream home! When looking to buy a house in Springfield, double check that you're factoring in the home's distance from your daily activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Springfield will also give you an idea of why homes in west Springfield are priced differently than homes in east Springfield, what the neighborhoods are like, and where to find Springfield's hottest attractions.

Are your finances in the right place to buy a home in Springfield? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make the journey less worrisome and more rewarding every step of the way. It doesn't matter whether you want to buy a home in Ohio or somewhere else entirely. We support new and experienced homeowners alike. Read through the following steps to help you determine if you're financially ready to buy a home in Springfield.

First, calculate how much house you can afford. This will help you narrow your search when house hunting in Springfield. After that, map out your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). You don't need an exact amount for these expenses. Searching the web for Springfield averages will usually give you a solid estimate, though everyone's situation is different. Keep in mind that a mortgage payment could make up the majority of most homeowners’ monthly household expenses.

Next, figure out what a realistic down payment would be for you. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, down payment requirements can differ depending on the loan type. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is an important part of your mortgage application. The better your credit is, the more mortgage options you may be presented with— and more options are always good!

Move Up and Out: Buying Your Dream House in Springfield, OH

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Springfield. Contact Mr. Cooper as you get ready to buy a house in Springfield. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Mr. Cooper Customer Reviews for Springfield, OH

Take it from these Mr. Cooper home buyers and sellers in Springfield, OH: We love helping homeowners. Call now to see how we can serve you.

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Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.